Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Number of Federal Tort Trials Plummeted 80%, Justice Department Reports
Sep 5 2005 // The number of tort trials concluded in U.S. district courts declined by nearly 80 percent, falling from 3,600 in 1985 to fewer than 800 in 2003, according to a new report released by the Department of Justice Bureau of...
ACE’s U.S. Subsidiaries Upgraded
Sep 5 2005 // A.M. Best Co. upgraded the financial strength ratings to “A+” (superior) from “A” (excellent) and assigned issuer credit ratings of “aa-” to ACE Westchester Specialty Group,...
Storm Warnings
Sep 5 2005 // As the hurricane season recently entered its third month, a London-based storm forecaster reported that a higher-than-usual number of hurricanes are expected to hit the United States this year. Tropical Storm Risk...
Converium Issues Statement on Katrina, Central Europe Flooding
Sep 2 2005 // Swiss reinsurer Converium has issued the following statement concerning expected losses from Hurricane Katrina and from the floods that ravaged Switzerland, Austria and other European countries in August. “Based on...
Fitch: Katrina May be Most Costly U.S. Insured Loss Ever
Sep 2 2005 // Fitch Ratings on Friday updated its analysis of Hurricane Katrina. The range of estimated insured losses continues to be very wide and Fitch believes it will be a long time before these estimates are refined. Nonetheless,...
Regulators Say Industry Prepared for Katrina’s Cost
Sep 2 2005 // The National Association of Insurance Commissioners (NAIC) says that while the damages from Hurricane Katrina may set record losses, the property and casualty industry maintains the adequate capital and liquidity required...
Everest Re Extends CEO Taranto’s Employment Agreement
Sep 1 2005 // The Bermuda-based Everest Re Group, Ltd. announced that the employment agreement of Chairman and CEO Joseph V. Taranto, has been extended to March 31, 2008. Taranto has been in charge at Everest Re since it was formed in...
AWAC Promotes D’Orazio to Senior VP, Global Mgr. – General Casualty Division
Aug 29 2005 // Bermuda-based Allied World Assurance Company, Ltd. (AWAC) announced that Frank N. D’Orazio has been named senior vice president and global manager of its General Casualty division. He is charged with setting and...
XL Capital Acquires Argonaut Group’s Risk Management Business
Aug 29 2005 // XL America Inc. (“XL America”), the holding company for XL Capital Ltd’s U.S. operations, announced that it has entered into an agreement with the San Antonio, Texas-based Argonaut Group to acquire the...
RMS: Katrina Could be Even More Devastating than Hurricanes Camille and Betsy
Aug 28 2005 // Based on the current track and forecast intensity (as of Sunday afternoon), insured losses from Hurricane Katrina’s second landfall on the Gulf Coast of the U.S. could be even more devastating than previous...
Occupational Fatalities Decreased in Texas in 2004
Aug 26 2005 // The Texas Workers’ Compensation Commission reported that in 2004, Texas recorded the second lowest number of occupational fatalities since data collection began in 1990. A total of 440 fatal occupational injuries...
U.S. Budget Office Says Federal Asbestos Fund Could Be Insufficent to Pay All Claims
Aug 26 2005 // The Congressional Budget Office released a cost estimate study on Friday for the Fairness in Asbestos Injury Resolution Act (S. 852), stating that the $140 billion asbestos compensation fund being considered by Congress...
Wausau President Tells Stakeholders to Aim for ‘Noble Goals’ of Original U.S. Workers’ Comp System
Aug 24 2005 // The U.S. workers’ compensation system needs evolutionary changes, but all industry stakeholders must never lose sight of the original “noble” goals from nearly a century ago, according to Wausau Insurance...
Winterthur Names New VP of Human Resources
Aug 22 2005 // Mike Bauer was recently named vice president of human resources at Winterthur U.S. Holdings, Inc., the parent company of General Casualty Insurance Companies. Bauer’s professional affiliations include the Executive...
Insurance Industry’s Share of Weather-Related Losses Rising, Researcher Says
Aug 22 2005 // Also, Majority of Weather Losses Tied to Smaller Events, Not Larger Catastrophes The insurance industry’s share of the world’s total economic losses from weather-related catastrophes is rising and 60 percent of...
Oilfield Anti-Indemnity Acts and Their Impact on Insurance Coverage
Aug 22 2005 // In the oilfield, operators typically enter into Master Service Agreements with various contractors who supply services and materials needed in connection with the many and varied oilfield operations. The MSAs usually...
Marcus Humphrey
Aug 22 2005 // McQueary Henry Bowles Troy LLP (MHBT), based in Dallas, recently named Marcus Humphrey vice president and leader of the firm’s Employee Benefits group. As vice president, Humphrey’s primary responsibilities...
Liberty Mutual Affirmed
Aug 22 2005 // Fitch Ratings affirmed the “A-” insurer financial strength ratings on the members of the Liberty Mutual inter-company pool and revised the rating outlook on pool members to stable from negative. Additionally,...
Insurance Industry’s Share of Weather-Related Losses Rising, Researcher Says
Aug 22 2005 // The insurance industry’s share of the world’s total economic losses from weather-related catastrophes is rising and 60 percent of these weather-related losses are attributable to small events as distinct from...
Missouri Insurance Agent Sentenced in Tax Scheme
Aug 19 2005 // A former Missouri tax preparer and insurance agent was sentenced in federal court for his role in a scheme that involved phony tax shelters. Donald Hicks, 72, was sentenced to five years of probation by U.S. District Judge...
